BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Opportunities
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Threats
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Weakness
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Strengths
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Detailed explanation-1: -Ans. Threats refer to the external environment trends and changes that will hinder a firm’s performance.
Detailed explanation-2: -Opportunities: It enables the firm to identify opportunities and get the first mover advantage. The positive external changes provide opportunities to a business organisation to improve its performance.
Detailed explanation-3: -An external environment is composed of all the outside factors or influences that impact the operation of business. The business must act or react to keep up its flow of operations. The external environment can be broken down into two types: the micro environment and the macro environment.
Detailed explanation-4: -By developing new ways of doing things, the firm can cope up with changing technological environment. Threats refer to the internal environment trends and changes that will hinder a firm’s performance.